Bajaj Tempo to test market Hummer
New Delhi: Hummer, a Ferrari-look-alike, and Landmaster are all set to storm India in January 2002.

Bajaj Tempo Ltd will source the big axles and frames for the Hummer from DaimlerChrysler. The first prototype of the vehicle would be unveiled at the forthcoming Auto Expo 2002.

Bajaj Tempo will test market the vehicle. Commercial production will start in 9-12 months. The price is yet to be finalised.

Meanwhile, renowned car designer Dilip Chhabria will unveil a two-seater petrol sportscar Supercar at the expo.

The Supercar is targeted at the export markets, particularly the US. Designed indigenously by Chhabria's firm DC Design, the car is built on an indigenous platform and is powered by a Toyota twin-turbo petrol engine.

Hindustan Motors has decided to rework the Ambassador to make it look like yesteryears' Landmaster.
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MTNL to offer free Internet from Jan 26 for 100 days
Mumbai: The Mahanagar Telephone Nigam Ltd would introduce free Internet service for 100 days from January 26 in Mumbai and Delhi.

The net users will have to dial number 4888000 and its use will be free for 100 days.

MTNL would also waive the installation charge of Rs 800 for basic phone connections set up in January in Mumbai.
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MTNL launches WLL service in Mumbai
Mumbai: The Mahanagar Telephone Nigam Ltd on 31 December launched its limited mobility service in Mumbai. To be branded Garuda, this is based on the CDMA (Code Division Multiple Access) technology. MTNL will initially offer 50,000 lines in Mumbai.

The monthly rental for Garuda is Rs 450 and incoming calls will be charged at the rate of Rs 1.20 per minute. There will be no charge for calls made and the subscriber will have the choice of either paying a security deposit of Rs 5,000 to acquire the handset from MTNL or sourcing it himself.
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Krishna Knit plans expansion
Mumbai: Krishna Knitwear Technology Ltd, a part of the Rs 2,500-crore Tayal group, has embarked on a Rs 1,333-crore expansion project to meet the increasing demand in the international market for its knitted fabrics and garments.

The company has already implemented the first phase of the project at an estimated cost of Rs 683 crore.
The company plans to go for an initial public offer (IPO) of Rs 100 crore.
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Tatra to pump in Rs 100 crore
New Delhi: Czech truck major Tatra has firmed up plans to invest over Rs 100 crore to raise capacity and making India an outsourcing hub.

The company will invest more than Rs 100 crore during the next three years to hike the production capacity of the Hosur plant. The investment would also increase localisation content of Tatra trucks.
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Saregama shifts UK unit to India
Mumbai: Saregama Plc is shifting its overseas manufacturing facility in the United Kingdom (UK) to India in a bid to cut down on costs. The company currently sells around one lakh music cassettes and one lakh compact discs (CDs) per month in the American, European and the middle-east Asian countries.

The company plans to make India its global manufacturing hub for music cassettes and CDs.

The company is in the process of closing down its warehousing facility in UK and it will cease to operate from February 1, 2002.
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Bids invited for nine ITDC hotels
New Delhi: The government has invited initial bids for the third tranche of India Tourism Development Corporation hotels, involving sale of nine properties.
Elite Kovalam Ashok Beach resort in Kerala with 196 rooms along with Hotel Airport Ashok at Kolkata with 149 rooms, are amongst the hotels which have been put on the block.

The government has already completed the disinvestment of six hotels including Ashok Bangalore which was given out on long term lease, in the first tranche.

Hotels that have been offered for sale include Hotel Jaipur Ashok, Hotel Patliputra Ashok at Patna, Hotel Kalinga Ashok at Bhubaneshwar, Hotel Jammu Ashok and Hotel Khajuraho Ashok.
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Tatas extend Rs 100-cr advance to TataFin
Mumbai: The Tata Group has extended Rs 100 crore as advance to Tata Finance to partially-meet the capital adequacy norms for the non-banking finance company.

The group has advanced Rs 100 crore as a part of Rs 300-crore rehabilitation package and this will be set off against issue of tier-one capital.

The group had submitted a draft proposal to the Reserve Bank of India to infuse Rs 300 crore in three tranches of Rs 100 crore each by December 2002.
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